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How financialisation shapes productive models in pharmaceutical industry: the domination and contradictions of the blockbuster conception of control (In French)

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  • Matthieu MONTALBAN ( (GREThA UMR CNRS 5113)

Abstract

This article analyses the interaction between competition, productive models and financialisation of the main pharmaceutical companies. After having studied the institutional specificities and the constraints that shape productive models, we analyze how transformations of ownership structures and corporate governance are connected with institutional relationships of the industry, leading to the emergence of a conception of control inciting dominant firms to adopt models focused on the most profitable dugs (blockbusters). This article converges with the conclusion of Palpacuer et al. (2007) on the agrofood industry case. Finally, the article analyzes the main causes of the recent crisis of these models.

Suggested Citation

  • Matthieu MONTALBAN ( (GREThA UMR CNRS 5113), 2009. "How financialisation shapes productive models in pharmaceutical industry: the domination and contradictions of the blockbuster conception of control (In French)," Cahiers du GREThA 2009-01, Groupe de Recherche en Economie Théorique et Appliquée.
  • Handle: RePEc:grt:wpegrt:2009-01
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    References listed on IDEAS

    as
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    More about this item

    Keywords

    financialisation; productive model; pharmaceutical industry;

    JEL classification:

    • L65 - Industrial Organization - - Industry Studies: Manufacturing - - - Chemicals; Rubber; Drugs; Biotechnology; Plastics
    • G32 - Financial Economics - - Corporate Finance and Governance - - - Financing Policy; Financial Risk and Risk Management; Capital and Ownership Structure; Value of Firms; Goodwill
    • G34 - Financial Economics - - Corporate Finance and Governance - - - Mergers; Acquisitions; Restructuring; Corporate Governance

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